Shanghai-based Anew Labs announced about $290M in inaugural external financing on September 16, 2026, from HSG, IDG Capital, Hillhouse, and 5Y Capital. Spun out of ByteDance, which retains a 56% stake, the company applies AI to drug discovery.
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ByteDance-spun Anew Labs raises $290M for AI-driven drug discovery
Why this matters for founders
Healthtech and biotech founders should watch AI-first drug discovery entrants as potential partners or competitors; the scale of this raise shows capital is flowing to AI applied in regulated science.
Source: Tech Startups
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